Perion acquires Grow Mobile for $17M Perion Network announced that it has entered into a definitive agreement to acquire Grow Mobile, Inc. Grow Mobile will become part of Perion Lightspeed, which was recently created to address the advertising needs of mobile app developers, and will enable Perion Lightspeed to provide a more comprehensive technical and platform solution for app developers. The initial purchase price is $17M, of which $10M in cash and $7M in equity which will be paid at closing. The total purchase price may reach up to $42M, with an earn-out component that allows for an additional $25M in cash and equity to be paid over the next 24 months, contingent upon achieving certain revenue and profit milestones. The transaction is expected to close early in Q3. The acquisition will be funded from cash on hand and management anticipates the acquisition to be accretive to Perionís FY14 financial results.
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